On May 31, 2021. Armstrong Company $3.500.000 to coot the common stock of Hell Corporation, which became division of Armstrong Hall reported the following balance sheet at the time of the acquisition TH $.900.000 5 600.000 Current assets Current Ibilities Noncurrent assets tong-term labies 2.200.000 500.000 Stockholders equity 2990000 To Habilities and ine Total assets stockholders' equity 53.000.000 $3000.00 It was determined at the date of the purchase that the Tal value of the dentablemets of Hillas 53.100.000. At December 31, 2021. Horts the following balance sheet information Current assets $ 500,000 Noncurrent assets facluding word in purchase 2400.000 Current abilities 700.000 Long-term oblities 500.000 Net ats $2.000.000 It a determined that the air vahe one handon 52.200.000 Instructions al Compute the amount of good condi on May 31, 2001 Determine the cento tanto be recorded on December 31, 2021 c) Assume that the true of the 51 950 Orted of 200000. Prepare the loomad entry to record theme December 312021